Life Assurance is used primarily to provide money for an individual or individuals in the event of the death of the policyholder. The need for cover could relate to one or more of the following:-

A Mortgage - aiming to ensure that in the event of death, the outstanding loan is repaid, thus removing the financial burden on the surviving spouse / family.

Money for dependants – for example a wife or partner, plus any children, who would have been relying on the income of the deceased person.

Business Partners / Shareholders – with a view to providing sufficient funds for the business to purchase the deceased's shares from the beneficiaries.

There are several types of life policy that could be used to cover these situations, ranging from simple Level Term Assurance, which is designed to pay out a fixed sum on death at any time during the term of the policy, to extendable or reducing sum assured policies. All have individual benefits and features, making it important to seek advice on the most appropriate options.

It may also be possible to use life assurance policies for investment purposes, depending on individual requirements.

Life Assurance cover and the cost of providing this cover is based on assessment of the age, sex and health of the applicant(s). It is likely that any pre-existing medical conditions(s) may not be covered under a new contract.